Asian-led consortiums win Australian casino bids
Published on May 27, 2014 12:04 PM
BRISBANE, Australia (AFP) - A Hong Kong billionaire and a Chinese-Australian investment consortium won bids on Tuesday to build multi-billion-dollar mega-casinos in Queensland after other contenders were ruled out by the state government.
Mr Tony Fung's A$8.15 billion (S$9.43 billion) Aquis project near Cairns and ASF Consortium's A$7.5 billion Broadwater Marine Project on the Gold Coast will receive gaming licences if environmental, planning and gambling approvals are obtained, Queensland's Deputy Premier Jeff Seeney said.
"The Queensland government has identified that these projects have the greatest capacity to deliver the requirements for an integrated resort development in the regions, particularly the potential to attract inter-state and international tourists as both these centres have international airports," Mr Seeney said.
He added that four other proposals, which included a bid supported by Australian golfing great Greg Norman, needed a "considerable amount of work" before they could meet the criteria outlined by the government.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here